Publication - Research and analysis

Scottish economic bulletin: May 2025

Published: 23 May 2025
From: Chief Economist
Directorate: Chief Economist Directorate
Topic: Economy
ISBN: 9781836916369

Provides a summary of the latest key economic statistics, forecasts and analysis on the Scottish economy.

Part of

Economy: briefs, bulletins and insights

Footnotes

1 Economy statistics - gov.scot (www.gov.scot) , GDP monthly estimate, UK Statistical bulletins - Office for National Statistics (ons.gov.uk)

2 Consumer price inflation, UK - Office for National Statistics

3 Monetary Policy Report - May 2025 | Bank of England

4 Scottish Business Monitor Q1 2025 | FAI

5 SCC Quarterly Economic Indicator – Q1 2025

6 NatWest UK Regional Growth Tracker – April 2025 | NatWest Group

7 Business and innovation statistics - gov.scot (www.gov.scot)

8 SCC Quarterly Economic Indicator – Q1 2025

9 NatWest UK Regional Growth Tracker – April 2025 | NatWest Group

10 Labour market statistics - gov.scot (www.gov.scot)

11 The ONS notes that the Labour Force Survey (LFS) estimates have been affected by increased volatility, resulting from smaller achieved sample sizes, meaning that estimates should be treated with caution, and are working towards an online-first Transformed Labour Force Survey (TLFS), which is viewed as the long-term solution to the falling response rate.

12 Earnings and employment from Pay As You Earn Real Time Information, seasonally adjusted - Office for National Statistics (ons.gov.uk)

13 Nomis - Official Census and Labour Market Statistics (nomisweb.co.uk)

14 Textkernel new online job adverts - Office for National Statistics

15 Earnings and employment from Pay as You Earn Real Time Information, seasonally adjusted - Office for National Statistics (ons.gov.uk)

16 Monthly Decision Maker Panel data - April 2025 | Bank of England

17 Economy statistics - gov.scot (www.gov.scot)

18 UK Consumer confidence down four points in April to -23 - NIQ

19 Retail sales, Great Britain - Office for National Statistics

20 Monthly Direct Debit failure rate and average transaction amount - Office for National Statistics

21 Public opinions and social trends, Great Britain: household finances - Office for National Statistics

22 Scotland’s Economic and Fiscal Forecasts – December 2024 | Scottish Fiscal Commission

23 FAI Economic Commentary Q1 2025 | FAI